For Week Ending January 6, 2024
Median priced single-family homes and condos were less affordable compared to historical averages in 99% of counties nationwide in the 4th quarter of 2023, according to ATTOM’s Q4 2023 U.S. Home Affordability Report. Major homeownership expenses currently take up 33.7% of the average national wage, a slight improvement from the third quarter, when major expenses consumed 35% of the average national wage. ATTOM reports homeowners need an annual income of more than $75,000 to afford a home in approximately 57% of the county markets in the report.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JANUARY 6:
- New Listings increased 3.9% to 853
- Pending Sales increased 19.3% to 476
- Inventory decreased 2.7% to 6,382
FOR THE MONTH OF NOVEMBER:
- Median Sales Price increased 2.2% to $362,550
- Days on Market remained flat at 40
- Percent of Original List Price Received increased 0.2% to 97.4%
- Months Supply of Homes For Sale increased 15.8% to 2.2
All comparisons are to 2023
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.